The adverse effects of the pandemic did not prevent Claas from enjoying a 3.7% increase in sales this year, which for the first time top €4.0 billion.
Whilst sales in Germany, France and the other western European countries remained stable on the whole, they grew significantly in eastern Europe and especially Russia.
At around 20%, the company achieved its strongest growth in sales outside of Europe, with North America proving to be the most important growth driver.
The pandemic did not prevent Claas from implementing important investment projects as planned, including new production technologies at the Le Mans tractor plant to increase efficiency.
At Harsewinkel, the first phase of the major modernisation project for combine harvester assembly was completed. New sales centres in France and the UK were also opened as was a new high-bay warehouse in Hamm in Germany.
“Claas managed to achieve growth in sales and to improve profitability despite the pandemic and shutdowns in production,” said chairman Thomas Böck of the Claas Group executive board. “In the process, our widespread international presence has paid off.”
Capital investments in fixed assets for 2020 was €131m (2019: €125m), and R&D expenditure continued at a high level of €237m (2019: €244m). Global Claas employee numbers remain stable at around 11,400.
